Toni Braxton's Grammys in Jeopardy?

Toni Braxton is probably singing "Un-break My Bank" these days -- another unfortunate indication that the singer's finances are falling apart.

According to the Wall Street Journal, The National Academy of Recording Arts & Sciences has officially "filed its response to a deal Braxton struck," presumably with creditors, to ensure her possession of her six Grammys and other items, like Tiffany jewelry and a '95 Porsche 911.

Sadly, if girlfriend doesn't get her finances in order, i.e., pay up $125,000 to her creditors, it all can be seized -- without question.

However, in the midst of all that's going on, it's not clear if Braxton's Grammys can be claimed by creditors without NARAS' green light.

What should Braxton do? Let's hope her reality show can offset some of these bills.